Application of the Accounting Standard for Revenue Recognition from the fiscal year ending March 2022
First written in FY2018. 4 of 6 entries say "Restated". Latest entry: FY2022.
6 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020) and related standards from the beginning of the current consolidated fiscal year. Revenue is recognized at the point when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services.」
The company applied the revenue recognition standard from the beginning of the fiscal year ending March 2022 and, in principle, recognizes revenue from construction contracts over time based on the degree of progress. - FY2022-Q3RestatedAnnual report
「As a result, net sales for the cumulative third-quarter period increased by ¥413.264 million, cost of sales increased by ¥409.435 million, and operating profit, ordinary profit and profit before income taxes for the quarter each increased by ¥3.828 million.」
The company continued to apply the revenue recognition standard introduced from the first quarter. For the cumulative third-quarter period, net sales increased by ¥413.264 million and operating profit and other amounts increased by ¥3.828 million. - FY2022-Q2RestatedAnnual report
「As a result, net sales for the cumulative second-quarter period increased by ¥146.615 million, cost of sales increased by ¥133.830 million, and operating profit, ordinary profit and profit before income taxes for the quarter each increased by ¥12.784 million.」
The company continued to apply the revenue recognition standard introduced from the first quarter. For the cumulative second-quarter period, net sales increased by ¥146.615 million and operating profit and other amounts increased by ¥12.784 million. - FY2022-Q1AchievedAnnual report
「We applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other relevant standards from the beginning of the first quarter of the current consolidated fiscal year. Revenue is now recognized at the amount expected to be received in exchange for the promised goods or services when control of those goods or services transfers to the customer.」
The company applied the previously planned revenue recognition standard from the beginning of the first quarter of the fiscal year ending March 2022. For construction contracts, revenue recognition was changed in principle to a method based on satisfaction of performance obligations over time, increasing net sales by ¥142.308 million and operating profit and other amounts by ¥10.416 million. - FY2020RestatedAnnual report
「The standard will be applied from the beginning of the fiscal year ending March 2022.」
The company continues to disclose its plan to apply the accounting standard for revenue recognition and related guidance from the beginning of the fiscal year ending March 2022. - FY2018First statedAnnual report
「We will apply it from the beginning of the fiscal year ending March 2022.」
The company first disclosed its plan to apply the accounting standard for revenue recognition and its implementation guidance from the beginning of the fiscal year ending March 2022. The impact on the consolidated financial statements was still being assessed at that time.